Chelsea get MASSIVE cash injection to help Boehly build his empire
Tom Weber
- Updated: 20 Sept 2023 16:59 BST
- 3 min read
Chelsea have received a $500 million (€466m) capital injection from an American firm to help fund stadium improvements and the acquisition of more clubs, according to a report.
Todd Boehly and the consortium running Chelsea since acquiring the club from Russian oligarch Roman Abramovich last year have made no secret of their ambitions for the London giants. However, despite yet another transfer window of ridiculous spending, the investment is yet to yield a return.
More than €1 billion have been spent on new recruits since the takeover, but Chelsea are once again struggling to compete on the pitch, currently languishing in 14th after finishing 12th last term. Their embarrassing previous campaign saw them miss out on the lucrative Champions League.
READ: Chelsea 'preparing offer' for RECORD-BREAKING wonderkid
In the wake of this, reports suggested that Boehly was looking for investors in order to pump more money into the club and it seems that his search has been successful.
Chelsea get cash injection
That's at least according to the Financial Times, which claims that US-based alternative asset manager Ares has agreed to contribute $500m in fresh investment.
The money will reportedly go towards helping Boehly and company expand their club network further after the acquisition of Ligue 1 side Strasbourg. Ares are also involved with Atletico Madrid and Eagle Football, a group to which Crystal Palace and Olympique Lyon belong.
Moreover, the money will also go towards stadium improvements with the Chelsea bosses still weighing up whether to renovate and expand Stamford Bridge or whether to construct an entirely new ground.
READ: ‘Todd Boehly to sign €70m goalscoring Lazio goalkeeper!’
Clearlake co-founder Jose Feliciano hinted that Chelsea are still very much in the process of getting all their ducks in a row from a financial point of view at the IPEM private equity conference in Paris.
"I think what we are trying to do is reduce the salary and essentially the opex [operating expenses] of the business by over $100m per year,” he is quoted as saying by the FT.
